Wallet Watch newsletter: Beware of rental scams
Losses hit $15.8 million nationwide with 839 victims reported in 2025, rising for a second straight year. The 2021 peak coincided with the pandemic shift to remote closings. Source: FBI Internet Crime Complaint Center
Looking for an apartment under $1,500? On Long Island, renters searching for homes in that price range might be more likely to find listings that are either misleading or outright scams.
That's been the experience for Judith Damelio, who — on her hunt for an affordable place to live — has dodged requests for personal information, suspiciously high application fees and other payments, reports Celia Young and Ada Carlston.
For renters on a tight budget, Long Island's high rents and limited housing supply have created an urgent market ripe with opportunity for scammers scheming for funds or personal information.
If you're searching for an apartment, look out for these red flags:
- Beware of unusual payment requests (like asking you to pay in gift cards).
- Unrealistically low rent.
- Conflicting details on different platforms for the same apartment.
- Charging more than $20 to run a background check.
- Asking for money upfront.
Read more here.
To our readers
As home prices on Long Island continue to reach for the stars, a lot of us people down on Earth are wondering how to scrape together enough money to get there.
A 20% down payment for houses with median prices ranging closer to a million dollars is no longer realistic for most people. One Long Island loan officer said he sees most first-time home buyers putting down somewhere between 5% and 10%, Newsday has reported.
So, my fellow Earthlings, how are you scraping together money for a down payment? Let us know with an email to walletwatch@newsday.com.
Have a question you'd like to submit? Confused by a bill? Spotted a price hike? Ask our team and we might answer it in the next edition. Email walletwatch@newsday.com or click here.
Brianne Ledda covers personal finance and affordability for Newsday. She previously covered Southold and Greenport for The Suffolk Times and is a graduate of Stony Brook University.
